1/ Jamie Dimon didn't just tell workers to RTO; he built a $3B skyscraper with gyms, Michelin-starred vegan meals, and an Irish pub.

If Wall Street's new HQ feels like a resort, that's because it basically is.

Let's get into the giant new office that's nearing completion. 2/ The 60-story tower at 270 Park Ave will house 14,000 employees, roughly 4x the old digs.

So it's basically a city within a city, where even your specific latte order is recorded by the building's tech system.

1/ Wall Street's math wizards are scratching their heads as quant hedge funds bleed cash in a summer slump that defies explanation.

Let's get into it. 2/ Since June, quant hedge funds like Qube, Cubist (Point72), and Man Group have been hit by an unusual string of steady losses, without a major market shock to blame.

1/ Britain's rich are calling it quits.

The UK is on track to lose ~16,500 millionaires this year, more than any country on record.

Analysts have dubbed it "Wexit," a wealth exodus fueled by tax hikes, policy chaos, and Brexit fallout.

Let's get into it. 2/ The October 2024 budget lit the fuse with capital gains and inheritance tax hikes, plus new rules aimed at non-doms, made the UK's moneyed class run for the hills.

Over half of those fleeing? Foreign-born professionals.

1/ Bookings from Europe to the US this summer? Down 25%.

Travelers are saying "nah" to border uncertainty, opting for Canada, Egypt, and South America instead.

Even luxury hotel bosses are spooked.

Let's get into it. 2/ The CEO of Accor, a French hotel group, is calling the US "an unknown territory."

Translation: People don't want surprises when entering the country and are making travel plans accordingly.

1/ Law school applications are surging, up 20.5% from last year alone.

Schools like Georgetown received 14,000 applications for just 650 spots, making this one of the most competitive years in recent history.

What's causing the jump?

Let's get into it. 2/ A weak job market and economic uncertainty are driving many to law school, seeing it as a stable career path.

Even MBA graduates from top schools are struggling to find jobs, adding to the influx of applicants.

1/ Federal agencies have until today to justify their use of 10 major consulting firms.

If they can't prove these firms are mission-critical, their contracts will be cut.

That means putting billions in contracts at risk.

Let's get into it. 2/ In an effort to align with the current administration, consulting firms are rebranding.

Accenture is dropping diversity goals, Deloitte is removing pronouns from emails, and IBM is pitching itself as a cost-saving tech provider.

1/ Older homes in the US are now nearly as expensive as newly built ones thanks to low inventory.

It's a stark contrast from the historical norm, and a trend that shows few signs of slowing down.

Let's get into it. 2/ Newly constructed homes are selling for just 3% more than older homes.

That's a significant drop from the average 16% premium seen since 1968, per a WSJ report.

1/ BuzzFeed had a saving grace this week when it sold "Hot Ones" for $82.5 million.

But will it be enough to save the once high-flying digital publisher from financial collapse?

Let's get into it. 2/ "Hot Ones," known for its spicy celebrity interviews, will now operate as a stand-alone company under the ownership of a fund controlled by George Soros.

Host Sean Evans remains an investor, ensuring continuity for fans.

1/ Trump has appointed Elon Musk and Vivek Ramaswamy to co-lead the newly created "Department of Government Efficiency" (DOGE).

Their goal? To slash $2 trillion from the federal budget, cutting nearly one-third of total spending.

But what exactly might go? Let's get into it. 2/ The US spent $6.75 trillion in fiscal year 2024, leading to a deficit.

Of that $6.75 trillion, Social Security, health, and Medicare were the biggest expenditures.

1/ OpenAI has been non-profit...until now.

The company is considering a shift to for-profit, with Sam Altman getting a 7% equity stake.

So why the change?

Let's get into it. 2/ OpenAI was founded as a non-profit.

When asked about his "real motivation" on the All-In Podcast a few months ago, Altman made it clear it wasn't equity he was after.

1/ The US yield curve slope has been an indicator for most recessions since WWII.

Yesterday, the longest US yield curve inversion ever ended.

Let's get into what that means. 2/ An inverted yield curve (when short-term yields are higher than long-term yields) typically indicates a looming recession.

But you'll often see the yield curve disinvert just before a recession.

1/ So far, Team USA is leading with 103 medals at the Paris Olympics.

Yet some of the elite athletes bringing home gold, silver, and bronze in Paris went into the red just for the opportunity to be there.

Let's get into it. 2/ At this rate, Team USA may very well surpass the 113 medals won at the 2020 Tokyo Games.

Simone Biles became the most decorated Olympic gymnast, Katie Ledecky took home the most medals for a female Olympian, etc.

1/ It's absolute carnage out there right now.

Yen trade is unraveling. Bank of Japan is raising interest rates. Unemployment is up. Emergency rate cut? Brokerages going down left and right.

Let's get into it. 2/ The stock market crashed today with the Nasdaq 100 dropping almost 6%.

But the trouble started in Japan.

1/ Americans spent $119.84 billion last year on sports betting.

But what was once a fun little way to raise the stakes with your favorite team has led to loan sharks and bankruptcy for many.

Let's get into it. 2/ In 2018, the US Supreme Court struck down a law that prohibited sports betting.

Since then, 38 states have legalized it and a portion of those state populations have gotten way in over their heads.

1/ Sam Altman gave low-income people $1,000/month for three years, no strings attached.

Now, the results of one of the largest guaranteed-basic-income studies are in.

Let's get into it. 2/ Back in 2019, 3,000 Texas and Illinois residents were enrolled in this guaranteed-basic-income study.

The experiment was funded by Sam Altman, who raised $60 million for the study ($14 million of which was his own money).

1/ AI? Intuit is into it.

So into it, in fact, it announced layoffs of 1,800 workers to make room for...1,800 new workers with a focus on generative AI.

Let's get into it. 2/ None of us are strangers to news of tech layoffs at this point, but this round is a bit different.

Seldom do companies let go of employees en masse for non-cost-cutting purposes just to hire about the same number of workers back.

1/ Scarlett Johansson is taking on OpenAI.

The actress hired legal representation after the AI company created a ChatGPT voice that was "eerily similar" to her own.

This isn't her first time going against a huge corporation, though, and winning.

Let's get into it. 2/ ScarJo is no stranger to voice acting.

The 2013 film "Her" used her voice for the AI program, Samantha.

Which is probably why Sam Altman wanted her to record for a GPT-4o voice.

1/ Boomers own twice as many large US homes as millennials right now (per Redfin).

And they aren't moving.

It's caused the housing market to become more stuck than it's been in decades.

Let's get into it. 2/ Around 28% of all homes with 3 or more bedrooms are owned by people:

1. Aged between 60-78 years old
2. Living by themselves or with a partner

AKA empty nesters

1/ The Port of Baltimore is responsible for $15 million in economic activity every day.

And the Francis Scott Key Bridge collapse has it closed until further notice.

But what is the economic fallout from losing this key East Coast trade artery?

Let's get into it. 2/ Besides the loss of life and property, the bridge collapse is an economic nightmare.

"The railroads, the trucking industry, the regional distribution centers, commuters, and other segments of the economy," are all being affected, economist Anirban Basu told Business Insider.

1/ Youtuber @MKBHD recently tested Fisker's latest EV and called it the "worst car I've ever reviewed."

The video has picked up 4.3 million views since he posted it and even reached execs at the company.

But things got really weird when Fisker responded. Let's get into it. 2/ Brownlee had initially asked Fisker to give him a vehicle to review, but they kept delaying.

Tired of jumping through hoops, he found a car dealer willing to let him borrow one.

1/ Google has halted its Gemini AI image generator due to historical and racial inaccuracies.

The AI was "missing the mark," per a company statement, after users came forward citing results like Nazi-era German soldiers being depicted as people of color.

Let's get into it. 2/ Google's Gemini AI (formerly Bard) started offering image generation a few weeks ago and is already under fire.

Users have noted that some of the generated images are chock-full of inaccuracy, especially when it comes to race and historical events.